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BOC grants 20b yuan in loans to shipping firm

(chinadaily.com.cn)
Updated: 2009-05-12 16:18

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Bank of China (BOC) Shanghai branch recently approved syndicated loans worth nearly 20 billion yuan ($2.93 billion), which will be provided to COSCO Container Lines Co Ltd (COSCON) in the next three years.

BOC Shanghai branch will grant a credit line of $1.75 billion in the coming two years for the construction and operation of 28 COSCON container vessels. Meanwhile, it will offer $1 billion in liquidity loans in the next three years to help cover the company's operating costs.

The full text is available in the May Issue of Logistics China. Please visit publications for more subscription details.